The minimum daily wage will increase by 19% to 95.24 pesos (just under US $5) on November 1, predicts the Mexican Employers Federation (Coparmex), which is pushing for the hike.
Coparmex plans to insist on the increase when the representative council of the National Minimum Wage Commission (Conasami) meets tomorrow in Mexico City.
The commission reviews the minimum wage annually by taking into account inflation rates, and a revised rate usually goes into effect on January 1.
But last week, prominent union leader Carlos Aceves del Olmo called on the Labor Secretariat to convene an extraordinary Conasami meeting with the aim of reaching an earlier agreement on a new minimum wage.
Employers’ associations, workers and government officials will participate in the negotiations.
Coparmex will argue that the minimum wage should be brought into line with recommendations from the social development agency, Coneval, which advocates an increase in order for it to reach parity with its own threshhold for well-being.
Coparmex president Gustavo de Hoyos made it clear what outcome the organization wants.
“Beyond the pressures of the Secretariat of Finance and Public Credit or the unyielding stance of the Bank of México, we expect Conasami to comply with its mandate,” he said.
De Hoyos also said that minimum wage negotiations could have an impact on the current North American Free Trade Agreement (NAFTA) talks.
“It’s time to give a sign that the country is advancing . . . in the right direction in the evolution of its labor market, in combating growing inequality and that it is on the route toward social development,” he said.
Labor Secretary Alfonso Navarrete has already said on several occasions that there is an agreement to increase salaries before the end of the year. The current minimum wage only covers 84% of the amount needed to reach the well-being line established by Coneval.
If approved, the increase would more than double last year’s seven-peso raise.
Source: El Economista (sp)